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28 January 2021 6 min read

Baringa Partners congratulate leading global renewable energy company on signing of equity investment deal

Phil Grant

Phil Grant
Partner | Energy, utilities and resources | London

Baringa Partners are delighted to see the announcement of the investment in Mainstream Renewable Power, a global renewable energy company, to accelerate its global expansion plan to bring 5.5 Gigawatts (GW) of assets to financial close by 2023.

Supporting our client Mainstream on this important step in accelerating the global energy transition is a proud achievement for Baringa. We extend our congratulations to the new investor, Aker Horizons of Norway.

Baringa’s role on supporting this equity investment has included:

  1. Provision of power market analysis and long term power price projections for Mainstream’s key markets
  2. Provision of market advice to support investors in understanding the long term fundamental outlook for onshore wind, offshore wind and solar power in those electricity markets
  3. Assessment of the commercial performance of intermittent renewable energy assets in capturing revenues from sales of electricity

Paul Corrigan, CFO at Mainstream Renewable Power said “This transaction is an important milestone in accelerating the delivery of our portfolio of renewable energy projects globally. We are pleased to have had Baringa Partners support us as our market advisers in several regions on this transaction, providing us and our investors with an independent view of the outlook for renewable energy assets in emerging power markets globally.”

Phil Grant, Global Head of Power Generation – Energy & Resources at Baringa Partners commented “We are very pleased to have supported our client Mainstream Renewable Power and their advisers Rothschild on this important project for the acceleration of their pipeline of renewable energy projects globally. Mainstream is a truly global renewable generator, with a strong heritage in developing innovative projects. We were delighted to undertake the market sizing and scenario projections in Asian and Latin American markets, and look forward to seeing the pipeline become operational.”

About Mainstream Renewable Power

  • Mainstream is a leading independent renewable energy company with a global footprint and a proven track record across multiple technologies
  • Since its establishment in 2008, Mainstream has developed and brought forward assets totaling 6.4 GW of renewable energy capacity to financial close-ready and sold a significant number of wind and solar projects to world class counterparties
  • Mainstream is one of the most successful independent developers of offshore wind at scale globally. It has developed, and later divested, projects representing 22 percent of the UK’s offshore wind capacity either in operation or under construction
  • Mainstream has a global organization of 335 employees across 11 countries, with capabilities covering the entire lifespan of renewable energy assets, from sourcing and development through to operations
  • Mainstream’s current portfolio includes 1.4 GW (net) in operation or under construction, primarily made up of onshore wind and solar assets in Chile and South Africa. Mainstream furthermore has an advanced pipeline of 700 MW (net) expected to reach financial close in 2021, and more than 9 GW of other development assets, in addition to several large-scale offshore wind opportunities.

About Baringa Partners

Baringa Partners is an independent business and technology consultancy. We help businesses run more effectively, navigate industry shifts and reach new markets. We use our industry insights, ideas and pragmatism to help each client improve their business. Collaboration is central to our strategy and culture ensuring we attract the brightest and the best. And it's why clients love working with us.

Baringa launched in 2000 and now has over 700 members of staff and more than 65 partners across our practice areas Energy and Resources, Financial Services, Products and Services, and Government and Public Sector. These practices are supported by cross-sector teams focused on Customer & Digital; Finance, Risk & Compliance; People Excellence; Supply Chain & Procurement; Data, Analytics & AI; Intelligent Automation & Operations Excellence; and Technology Transformation. We operate globally and have offices in the UK, Europe, Australia, US, Middle East and Asia.

Baringa Partners have been voted as the leading management consulting firm in the Financial Times' UK Leading Management Consultants 2020 in the categories energy, Utilities & the Environment, and Oil & Gas. We have been in the Top 10 for the last 13 years in the small, medium, as well as large category in the UK Best Workplaces™ list by Great Place to Work®. We are a Top 50 for Women employer, and are recognised by Best Employers for Race.

Baringa. Brighter Together.